FREEHOLD INVESTMENT PROPERTY
2 Tenants Currently in Place
Yield Return 8%
In the Heart of Gloucestershire
Recently Renovated and Leased
Freehold Excellent Town Centre Location
Close to M4 and M5
This is an excellent freehold investment opportunity to acquire a town centre property. The building is currently split into 2 units, one occupied by tenant as a takeaway, and the second unit houses an hair salon which has been trading within the unit for the last 6 years and has signed in March 2020 a new lease which generates a rental income of £9,540 per annum.
The property is situated in the market town of Dursley which is located in Gloucestershire approximately 12 miles south of Gloucester and 25 miles north of Bristol. It is easily accessible from all directions, being situated close to the M4 and M5 motorways.
The building itself was constructed in the 1800’s as a theatre and due to its very strong beams means all inner walls can be taken down to accommodate any number of business uses. Due to its size, unit 1 is approximately 93.5 and unit 2 approximately 104 square metres with the addition of an entrance hallway in between.
These very good business premises with untapped potential comprises of two main units.
Unit 1 consists of an open-plan glass fronted retail unit of approximately 5 x 9.3 metres with a customer service desk and general administration area, at the rear of this there is a store room of 2.44 x 9.3 metres. At the back accessed through a main corridor via the main entrance is a large store room of 7 x 5 metres which also has toilet facilities. The whole unit which occupies around 18.7 x 5 metres can be completely re modified as all internal walls can be removed due to the strong beams included for its original construction as a theatre.
Unit 2 consists of the main salon accessed from the street which is approximately 5.6 x 18.7 metres with an elevated floor at the rear which leads to a second elevated section at the rear, there are also storage and toilet facilities within the unit.
Between the units and accessed by an independent doorway from the main street is a hallway which allows access to the rear of both units 1 and 2, and to the stairwell to the flats on the 1st and 2nd floors.
Externally and at the rear of the building there are 4 designated car parking spaces.
Considering its size and location this building represents an excellent value for money investment with good rental income and the maintenance of the building is equally shared by the tenants within the business accommodation and the owners of the 3 privately owned flats.